Former Tyco CEO Dennis Kozlowski is finally getting out of prison this week, so we thought we'd take a look at what landed him there in the first place eight years ago.
Kozlowski and his right-hand man were convicted in 2005 of stealing $150 million from Tyco and illicitly making $430 million more by artificially inflating the value of company stock. Kozlowski, the son of a Newark, N.J. police officer, flaunted his wealth and enjoyed a lavish lifestyle that prosecutors said was improperly funded by the company he worked for.
The most glaring example of this extravagance was a $2 million week-long birthday party for his wife, Karen, which became known as "The Tyco Roman Orgy." Tyco picked up half the bill for the Roman-Empire themed 40th birthday party on the island of Sardinia, attracting the attention of federal prosecutors in Manhattan, the Wall Street Journal reported in 2002.
Here are images from a home movie of the party that a jury eventually saw:
The event was almost comically over-the-top. Tyco staffer Beth Pacitti sent party planners a memo with very specific expectations for the party at the Hotel Cala di Volpe Resort, which included a large replica of Michelangelo's David.
Here's an excerpt from the memo, courtesy of the Journal:
Guests arrive at the club starting at 7:15 p.m. ... Two gladiators are standing next to the door, one opens the door, the other helps the guests. We have a lion or horse with a chariot for the shock value. ... The guests come into the pool area, the band is playing, they are dressed in elegant chic. Big ice sculpture of David, lots of shellfish and caviar at his feet. A waiter is pouring Stoli vodka into [the statue's] back so it comes out his penis into a crystal glass. Waiters are passing cocktails in chalices. They are dressed in linen togas with fig wreath on head. A full bar with fabulous linens. ... We have rented fig trees with tiny lights everywhere to fill some space. 8:30 the waiters instruct that dinner is served. We all walk up to the loggia. The tables are all family style with the main table in front. The tables have incredible linens with chalices as wine glasses.
The jury that saw footage from this party actually didn't end up convicting Kozwolski; the judge declared a mistrial after a juror apparently gunning for the former CEO's acquittal gave an "okay" sign to the defense.
During the second trial, prosecutors focused less on Kozwolski's opulent lifestyle and the notorious toga party and spent more time talking about accounting issues, The Times reported. But as the Journal noted, the ex-CEO's spending habits and big party attracted the attention of prosecutors, so it's fair to blame at least some of his downfall on the "Roman Orgy."
Of course, Kozlowski probably won't be throwing $2 million toga parties now that he's getting out of prison. He and former Tyco CFO Mark Swartz were ordered to pay $134 million back to Tyco, and Kozlowski was ordered to pay a $70 million fine.
Despite his business qualifications, Kozlowski will probably have a hard time finding work that will fund fancy lifestyle post-prison.